Common-Size Income Statement
Quarterly Data
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- Income Statement
- Statement of Comprehensive Income
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Net Profit Margin since 2010
- Current Ratio since 2010
- Debt to Equity since 2010
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General Motors Co., common-size consolidated income statement (quarterly data)
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Automotive Gross Margin
- The automotive and other gross margin experienced significant fluctuations, starting from 8.32% in Q1 2020 and plunging to a negative margin of -0.61% in Q2 2020. Thereafter, it improved substantially, reaching up to 15.27% in Q3 2020. Throughout the subsequent quarters, the margin remained variable but generally sustained positive margins mostly between approximately 6.75% and 13.3%, indicating a recovery and stabilization in profitability over time.
- Cost Trends
- Automotive and other cost of sales consistently consumed a large percentage of automotive net sales and revenue, fluctuating mainly between approximately -84.73% and -93.25%. These costs showed volatility but did not demonstrate a clear directional trend, highlighting ongoing cost pressures within automotive operations.
- GM Financial Segment
- The GM Financial net sales and revenue contribution to total automotive sales showed a declining trend from a peak of 25.56% in Q2 2020 down to a range more commonly between 8% and 11% in later quarters. Operating expenses for GM Financial also decreased in magnitude after the initial spike in mid-2020, generally hovering around -6% to -8%, suggesting improved expense control or a shift in business mix.
- Operating Income
- The operating income margin demonstrated considerable volatility, influenced by swings in gross margin and expenses. It ranged from a low of -9.08% in Q2 2020 to a high of 13.8% in Q3 2020. Subsequently, operating income margins were positive but variable, often between 2.34% and 9.53%, indicating intermittent profitability challenges and recoveries across quarters.
- Interest and Non-Operating Items
- Interest expense associated with automotive operations decreased modestly over the period, moving from -0.66% to levels near -0.38% by mid-2025, reflecting possibly reduced debt or cost of debt improvements. Interest income and other non-operating income varied significantly but did not show a sustained trend, generally remaining positive but declining coverage in some recent quarters.
- Equity Income (Loss)
- Equity income contributions fluctuated, with several quarters displaying losses, including a notable large negative impact of -10.01% in Q1 2025. This indicates volatility in investment or allied business performance affecting the overall earnings.
- Income Before Taxes and Net Income
- Income before income taxes followed a broadly similar pattern to operating income, with significant volatility and a sharp dip to -5.86% in Q1 2025. Correspondingly, net income also demonstrated large fluctuations, including negative results in selected quarters, notably a loss of -6.59% in Q1 2025. Despite ups and downs, the net income margins mostly stayed positive in many quarters, reflecting earnings resilience amid changing conditions.
- Income Tax Impact
- Income tax expense was also variable, occasionally showing tax benefits but generally incurring expenses around -1% to -4%. Some quarters showed positive tax benefits, illustrating possible one-time tax effects or adjustments.
- Dividends on Preferred Stock
- Cumulative dividends on subsidiary preferred stock were irregular, with unusual high negative figures like -2.9% in Q1 2022 and a positive value of 2.83% in Q1 2025, indicating atypical dividend treatment or accounting adjustments within those periods.
- Net Income Attributable to Stockholders
- Net income attributable to stockholders showed a recovery from deep negative values in early 2020 to steady positive levels for most subsequent quarters. However, it still experienced episodic declines, including a noteworthy negative margin in Q1 2025. The net income attributable to common stockholders reflected a similar pattern, confirming variability in profitability attributable to core shareholders.